[New Launch] Buying Property in the North? Canberra Crescent Residences Could Be the Next Buyer Favourite

Canberra Welcomes First New Launch in 4 Years! Canberra Crescent Residences Previews with Prices Starting from Just $1,880 PSF

After a four-year hiatus, Canberra is set to welcome a highly anticipated new private residential launch — Canberra Crescent Residences. Jointly developed by Kheng Leong and Low Keng Huat, this new project will fill the recent supply gap in the area and is poised to become a new favourite entry-level choice for buyers, boasting one of the most competitive starting prices in the Outside Central Region (OCR).

The project is expected to obtain its Temporary Occupation Permit (TOP) in 2030. Comprising four 12-storey residential blocks with a total of 376 units, it offers a diverse mix of layouts ranging from one- to four-bedroom apartments. Preliminary pricing released by the developers indicates starting prices from $1,880 psf, offering a significant competitive edge in today's market.

Resale Market Remains Vibrant as New Launch Looks Set to Reignite Demand

Since Canberra MRT station opened in 2019, private residential development across the precinct has accelerated rapidly. Including Executive Condominiums (ECs), Canberra is now home to eight residential developments, steadily evolving into an established neighbourhood.

During the absence of fresh supply, the resale market has remained robust. For instance, at The Visionaire—an EC completed in 2018—36 units changed hands between January and July this year alone, with recent transaction prices ranging between $1,336 psf and $1,488 psf. In July, a 980 sq ft unit transacted for $1.3 million ($1,336 psf), while a higher-floor unit of the same size transacted at $1,488 psf in June.

The Brownstone also put up a strong showing, recording 20 transactions in the first six months of the year, with a peak price of $1,534 psf. The latest deal saw a high-floor unit transact at $1.33 million ($1,507 psf).

Meanwhile, low-density private condos such as Canberra Residences and The Nautical, while seeing lower transaction volumes, have sustained psf prices well above the $1,000 mark, demonstrating resilient capital retention in the area.

Passing the Baton: Accelerating the Precinct's Maturity

As fresh supply, Canberra Crescent Residences will inject new vitality into the precinct. Compared to earlier EC launches, this new private development is not only close to the MRT station, but its anticipated price points also remain within an accessible range, bound to draw keen interest from young families and first-time homebuyers.

Nonetheless, analysts note that the Canberra precinct is still growing. While it boasts neighbourhood amenities like Canberra Plaza and several schools, its overall commercial and lifestyle infrastructure still trails more mature towns like Yishun and Sembawang.

Furthermore, several low-rise developments in the area may not appeal to buyers looking for unblocked high-floor views, making Canberra Crescent Residences' 12-storey profile a relatively rare vantage point and distinct advantage in the neighbourhood.

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